Business
PIN Seeks More Reportage Of Cyber Crime
The Paradigm Initiative of Nigeria (PIN), a Non- Governmental Organisation has called for more reporting of electronic fraud to facilitate control.
The PIN Director of Programmes, Mrs Tope Ogundipe told newsmen in Lagos last Monday that many electronic fraud cases, especially in financial institutions were not reported.
The PIN official said that the under reportage could be to avoid creating fear in customers.
“The more the cases are reported, the more their customers lose faith, and they don’t want to lose clients.
“In as much as the actual crime goes unreported, it becomes difficult to curb,” she said.
The director said that the under reportage had made it difficult to determine whether cyber fraud in Nigeria was in the increase.
“What I do know is that more individuals are aware of the antics of cyber criminals,” she said.
Ogundipe said that more individuals had been able to respond appropriately to fake calls or electronic mails.
She added that Nigeria’s international image had improved as regards cyber security due to the Cyber Act Law enacted in 2015.
According to her, the law had a comprehensive provision around electronic fraud which signaled to the world that the country was ready to deal with it.
“This is saying to the world that the government is serious with sanitising the cyber space and that it can be trusted.
“The government is in the right direction,” she said.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
